ClimaCell, a Boston, MA-based hyper-local weather forecasting company, closed $15m in Series A funding.
The round was led by Canaan Partners with participation from Fontinalis Partners, as well as existing investor Square Peg Capital. In conjunction with the funding, Rich Boyle, General Partner at Canaan, is joining ClimaCell’s board.
The company intends to use the funds to accelerate its expansion outside of the U.S., product development efforts and support new hires.
Led by Shimon Elkabetz, CEO and Co-Founder, ClimaCell creates proprietary weather observation data from wireless networks that then feed into its models. Ita current offerings, which serve customers in financial services, broadcast media, retail, construction, aviation, automotive and on-demand economy companies currently include HyperCast™ a web-based interactive HD weather map, which provides street-level precision that is 10x better than other weather sources and BroadCast API™, which opens up ClimaCell’s weather sensing technology to be integrated with any digital enterprise or to be offered as part of any SaaS-based solution.
While the software serves a variety of industries, some of its most impactful and immediate use cases lie in the aviation and mobility sectors. The technology also gives organizations across the mobility space a similar ability to reduce weather-related inefficiencies, and to incorporate real-time weather data into business processes.
FinSMEs
27/11/2017